- Mr. Market’s change in mood from manic last year to depressive this year is mirrored by the behaviors of the Select Sector SPDRs partitioning the S&P 500 into nine pieces.
- The Utilities ETF was the worst performer among the Select Sector SPDRs in 2013, when it advanced to an adjusted $37.66 from $33.31, a gain of $4.35, or 13.06 percent.
- However, the Utilities ETF was the best performer between Jan. 1 and April 17 in 2014, when it climbed to $42.30 from $37.66, an increase of $4.64, or 12.32 percent.
- Headwind: Analysis of the Utilities ETF’s seasonality indicates the SPDR’s highest mean and median monthly returns came in April during the first 15 full years of its existence.
- Tailwind: Earnings-per-share estimates published by S&P Dow Jones Indices appear more reasonable for the utilities sector than they do for the S&P 500’s other sectors.